With shoppers changing the way they do their browsing and buying, it is essential for companies to keep up with the shifting trends. Since most organizations have some internet presence already, it should be a logical jump to do retail on the web as well as in-store, seeing as others have already shown this strategy can be a real money-maker.
Getting to the web in the first place is not difficult, as smartphones and tablets carry connections with them wherever they go, and since online banking and other financial services are making money easier to manage from the web, gaining revenue from online resources should be businesses' next move.
Bringing the sale
Online retail is still one of the major components missing from small business ventures, according to the San Francisco Chronicle. It's also the sector of advertising and sales that businesses need to focus on most in order to make the most bank, as reports from Oracle Digital, Myer and David Jones have found these outlets to be saving graces in a period of internal economic turmoil.
The Chronicle said that industry experts were warning companies with no online presence that increasing consumer scope and enhancing technology outlets will boost revenue, a resource essential to businesses having trouble staying afloat while the recession persists. Even soluble organizations can benefit from this outlet, however, making it an even more appealing option.
"You have to remember that online shoppers choose to shop online because it is more convenient," said James Corby of Oracle Digital.
Making mistakes
Not everyone is web-savvy, and the first time your company builds a website and offers product, through it, be prepared for snafus and other errors. Learning and changing with the times will help keep customers coming back.
Elliot and Joseph Arking told Inc. Magazine that they did not even have a high-speed internet connection when their website launched, but they had a competent design team and a desire to succeed that pulled them through.
"We made every mistake conceivable," said Elliot Arking in the interview. His brother Joseph added, "We guaranteed every [item] we sold. If somebody was unsatisfied, I would send an e-mail with a letter of apology, and we would give an instant refund."